Saturday, 21 October 2017

The Importance of Business Parks and the Monetary Value to the Area

Written by Posted On Friday, 19 May 2017 02:57

Cities and towns are often expanded through the businesses within them. We can see this effect when many floundering towns are given new life with the fact that a big name company sets up shop there. It enables the people remaining within the city to have stable employment, therefore expanding the town immensely. This is how many cities have come back from the brink of disaster, but as more and more cities and towns need saving and with ever rising taxes within the city limits of towns, more business people are investing their time, money, and energy into business parks.

What Are They?

A business park is a specific grouping of businesses that work alongside one another with the same goal to attract business into the area. They tend to be placed on the outskirts of cities and offer new industries a home to come to, to expand their operations. Unlike the traditional business office type set up, the industry minded business model has some unique and profitable benefits to those looking to get into business as well as others within the area.

Land Costs

One of the largest detouring factors for industry coming into an area is the high upfront costs of buying the land to build the facility. As the business cannot possibly turn a profit without first having the physical location in which to run from, this can be a high cost for the business. Businesses that choose to invest in lands within a city are in for a substantial cost and even higher taxes on the land itself.

Business parks enable many businesses to concentrate themselves in one area and since it is on the outskirts and not located right within the city, the land cost can be significantly lower. Therefore, investors into the business park are able to get a much better deal on the land when grouping with other potential industries. That significantly lowers a business’s initial startup costs. The draw of more businesses increases the property values around the business park, thus bringing a significant amount of value into the area itself.

A Significant Draw

We live in a time where people are looking for any sort of job as employment is currently not at its highest level. That forces people to begin looking at these business parks for employment opportunities. Many times, potential residents will move to these new locations during construction of the business park and even before it is built looking for anything convenient they can work at. The area around the business park and the cities associated with them tend to flourish at even the notion of its existence with an influx of new people. That brings in new customers for all businesses within the area benefitting everyone.

Centrally Located

Giving directions to a specific area within a city can be a bit challenging when telling a newcomer how to get around. Businesses and industry can be scattered throughout the city and therefore not centrally locate. A business park enables for a central location of the largest businesses within the area. The park ends up being sort of a landmark for people coming into the city and looking for directions. Having big businesses centrally located within a business park gives the city a less confusing layout and visitors the ability to find the businesses they need without navigating the confusion.

Maintains the Small-Town Aspect

When people think of a business park they often think of a large metropolitan area, but business parks are no longer only in large cities. Small towns are finding value in the business park in a variety of ways. One significant reason is that the city is allowed to expand, while still maintaining its small-town feel. Expanding the interior of the city with large businesses often calls for eliminating popular hang outs of the locals that bring about the close knit feeling the locals enjoy.

With the business park being located outside the city, the landmarks are able to remain intact. The businesses and the locals get the chance to maintain their small town as they wish without keeping big industries away for lack of room. A business park may be just the less invasive expansion opportunity your small town needs in order to keep growing in this fast-paced world.

The value that a business park adds to any community is tremendous. Countless communities have been allowed to thrive when they allow these parks to come into the area. They add value to the properties that are already within the city and even to the rural outlying areas that do not often get the chance to grow. A business park is an asset that should be explored by all cities, town, and small communities. When expansion is in order, a business park is the answer. 

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